Ferguson Enterprises
{{Short description|American plumbing and heating company}}
{{Infobox company
| name = Ferguson Enterprises Inc.
| logo = Ferguson logo.svg
| image = Ferguson Enterprises New Corporate Headquarters.jpg
| image_caption = Ferguson Headquarters 3 in City Center at Oyster Point in Newport News.
| type = Public company
| traded_as = {{ubl|{{NYSE|FERG}}|Russell 1000 component|{{lse|FERG}}}}
| foundation = {{start date and age|1953}}
Birmingham, Alabama, U.S.
| location = Newport News, Virginia
| key_people = Kevin Murphy, President & CEO
William Brundage, CFO
Geoffrey Drabble, Chairman
| products = Plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF)
| revenue = {{ubl|{{nowrap|{{decrease}} US$29.634 billion (July 31, 2024)}}}}
| operating_income = {{ubl|{{nowrap|{{decrease}} US$2.652 billion (July 31, 2024)}}}}
| net_income = {{ubl|{{nowrap|{{decrease}} US$1.735 billion (July 31, 2024)}}}}
| assets = {{ubl|{{nowrap|{{increase}} US$16.572 billion (July 31, 2024)}}}}
| equity = {{ubl|{{nowrap|{{increase}} US$5.616 billion (July 31, 2024)}}}}
| num_employees = Approximately 35,000 (July 31, 2024), including 32,000 in the United States and 3,000 in Canada
| homepage = {{URL|https://www.ferguson.com/}}
{{URL|https://www.fergusonhome.com/}}
{{URL|https://www.build.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/2011641/000201164124000005/ferg-20240731.htm | title=Ferguson Enterprises Inc. Form 10-K for the Fiscal Year Ended December 31, 2023 | publisher=U.S. Securities and Exchange Commission | date=September 25, 2024}}
}}
Ferguson Enterprises Inc., headquartered in Newport News, Virginia and organized in Delaware, is the largest U.S. distributor of plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF), and water and wastewater products. The company receives 95% of its revenue in the United States and 5% of its revenue in Canada. The company has 36,000 suppliers and operates from 11 regional distribution centers, four MDCs, approximately 5,900 fleet vehicles, and 1,773 branches. FergusonHome.com (formerly Build.com) is the company's primary online shopping channel. Its primary competitors are Amazon.com in e-commerce and Home Depot in retail.{{Cite news | url=https://www.morningstar.com/company-reports/1211718-acquisitions-will-help-ferguson-grow-faster-than-subdued-end-markets-in-fiscal-2024 | title=Acquisitions Will Help Ferguson Grow Faster Than Subdued End Markets in Fiscal 2024 | first=Brian | last=Bernard | work=Morningstar, Inc. | date=March 5, 2024}}
In August 2024, Ferguson plc merged into the company.{{Cite press release | url=https://www.businesswire.com/news/home/20240730682337/en/Ferguson-Enterprises-Inc.-Establishment-of-new-corporate-structure-cancellation-of-Ferguson-plc-listing-and-admission-of-Ferguson-Enterprises-Inc.-common-stock | title=Ferguson Enterprises Inc.: Establishment of new corporate structure, cancellation of Ferguson plc listing and admission of Ferguson Enterprises Inc. common stock | publisher=Business Wire | date=1 August 2024}}{{Cite news | url=https://www.pilotonline.com/2024/08/28/ferguson-parent-company-officially-headquartered-in-newport-news/ | title=Ferguson parent company headquartered in Newport News | work=The Virginian-Pilot | date=28 August 2024}}{{Cite news | url=https://in.marketscreener.com/quote/index/DOW-JONES-INDUSTRIAL-4945/news/Ferguson-changes-parent-company-to-Ferguson-Enterprises-amid-US-shift-47530656/ | title=Ferguson changes parent company to Ferguson Enterprises amid US shift | work=Market Screener | date=1 August 2024}}
History
Ferguson was founded in 1953. The company started with two locations: Lenz Supply and Smither Supply. Expansion continued throughout the Southeast and Ferguson established its headquarters in Newport News, Virginia.
In 1982, Wolseley UK acquired the company for $30.7 million.{{Cite news | url=https://www.nytimes.com/1982/05/19/business/ferguson-enterprises.html | title=Ferguson Enterprises | agency=Reuters | work=The New York Times | date=19 May 1982}}
In 1989, Ferguson merged with Familian.{{Cite news | url=https://residentialdesignmagazine.com/major-merger-completed-by-ferguson-familian/ | title=Major Merger Completed by Ferguson, Familian | work=Residential Design | date=October 1, 1999}}
The company laid off thousands of workers during the Great Recession due to a slowdown in business.{{cite news| url=https://www.dailypress.com/business/dp-xpm-20130612-2013-06-12-dp-tidewaterbiz-ferguson-20130612-story.html| title=Ferguson remains industry force after 60 years| first=Tara | last=Bozick | work=Daily Press| date=12 June 2013}}
In 2012, the company acquired Power Equipment Direct.
In 2016, Ferguson acquired Signature Hardware for $210 million.{{Cite news | url=https://www.bizjournals.com/cincinnati/news/2016/10/20/one-of-cincinnati-s-largest-and-fastest-growing.html | title=One of Cincinnati’s largest and fastest-growing companies acquired | first=Tom | last=Demeropolis | work=American City Business Journals | date=October 20, 2016 | url-access=subscription}} The sellers later sued the company for failing to make earn-out payments.{{Cite web | url=https://casetext.com/case/butler-v-ferguson-enters-inc | title=MATTHEW C. BUTLER, Plaintiff-Appellant, v. FERGUSON ENTERPRISES, INC., Defendant-Appellee. | date=May 10, 2021}}
Wolseley plc changed its name to Ferguson plc in 2017.
{{cite news | url=https://www.reuters.com/article/us-wolseley-results/wolseley-to-change-name-to-u-s-brand-ferguson-reflecting-regional-focus-idUSKBN16Z0LV| title=Wolseley to change name to U.S. brand Ferguson, reflecting regional focus| first=Esha | last=Vaish | work=Reuters | date=28 March 2017}}
In the 2019 and 2020 fiscal years, Ferguson acquired Columbia Pipe & Supply,{{cite news | url=https://www.ajbell.co.uk/articles/stockmarketwire/191584/ferguson-acquires-chicagos-columbia-pipe-supply | title=Ferguson acquires Chicago's Columbia Pipe & Supply | work=AJ Bell | date=February 19, 2020}} S.W. Anderson{{cite web | url=https://www.fergusonpressroom.com/ferguson-acquires-s-w-anderson-hvac-supply/&sa=D&ust=1583849811854000&usg=AFQjCNEhg2wbMNSYWA-L5t-no5MTdEZQvw | title =Ferguson acquires S.W. Anderson HVAC Supply. | date = 12 November 2019 | website =Ferguson Pressroom}} Process Instruments,{{cite web | url=https://www.fergusonpressroom.com/wolseley-industrial-group-acquires-process-instruments-controls-llc/&sa=D&ust=1583849811852000&usg=AFQjCNGEO-w6_Lx6GhUvNZYp6THzGobWdw | title =Wolseley Industrial Group acquires Process Instruments & Controls, LLC | date = 9 September 2019| website = Ferguson Pressroom}} Innovative Soil Solutions and Action Plumbing Supply,{{cite web | url=https://www.fergusonpressroom.com/ferguson-expands-geotextile-and-erosion-control-capabilities-through-recent-acquisition/&sa=D&ust=1583849811855000&usg=AFQjCNHTNYSKPX4u9FH8xuxw8H0V0HRaHg | title =Ferguson expands geotextile and erosion control capabilities through recent acquisition. | date =30 July 2019 | website = Ferguson Pressroom}} Mission Pipe,{{cite web | url=https://www.fergusonpressroom.com/ferguson-acquires-mission-valley-pipe-supply/&sa=D&ust=1583849811855000&usg=AFQjCNHm0TlMNTozhSucLQ_S5oLPwxPAFA | title =Ferguson acquires Mission Valley Pipe & Supply. | date = 5 June 2019 | website = Ferguson Pressroom}} and Kitchen Art.{{cite web | url=https://www.fergusonpressroom.com/ferguson-acquires-kitchen-art/&sa=D&ust=1583849811856000&usg=AFQjCNF-KHHcFwnxykVnN1wtr1wUZC3Ybw | title =Ferguson acquires Kitchen Art | date =5 February 2019 | website =Ferguson Pressroom}}
In August 2024, Ferguson plc merged into the company.{{Cite press release | url=https://www.businesswire.com/news/home/20240730682337/en/Ferguson-Enterprises-Inc.-Establishment-of-new-corporate-structure-cancellation-of-Ferguson-plc-listing-and-admission-of-Ferguson-Enterprises-Inc.-common-stock | title=Ferguson Enterprises Inc.: Establishment of new corporate structure, cancellation of Ferguson plc listing and admission of Ferguson Enterprises Inc. common stock | publisher=Business Wire | date=1 August 2024}}{{Cite news | url=https://www.pilotonline.com/2024/08/28/ferguson-parent-company-officially-headquartered-in-newport-news/ | title=Ferguson parent company headquartered in Newport News | work=The Virginian-Pilot | date=28 August 2024}}{{Cite news | url=https://in.marketscreener.com/quote/index/DOW-JONES-INDUSTRIAL-4945/news/Ferguson-changes-parent-company-to-Ferguson-Enterprises-amid-US-shift-47530656/ | title=Ferguson changes parent company to Ferguson Enterprises amid US shift | work=Market Screener | date=1 August 2024}}
In February 2025, Ferguson Bath, Kitchen & Lighting Gallery and Build.com announced officially they will now operate under one name: Ferguson Home.{{Cite news | url=https://www.prnewswire.com/news-releases/ferguson-bath-kitchen--lighting-gallery-and-buildcom-now-ferguson-home-302387673.html | title=Ferguson Bath, Kitchen & Lighting Gallery and Build.com now Ferguson Home | work=PR Newswire | date=27 February 2025}}
References
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Category:Business services companies established in 1953
Category:1953 establishments in Alabama